FINANCING RECEIVABLES (Tables)

3 Months Ended

Mar. 31, 2023

Receivables [Abstract]

Schedule of Receivables

Current Receivables
	As of
	March 31, 2023		December 31, 2022
Current customer receivables(a)	$	3,150	$	3,112
Non-income based tax receivables	192		174
Other sundry receivables	122		100
Sundry receivables	314		274
Allowance for credit losses	(91)		(91)
Total current receivables – net	$	3,373	$	3,295

(a) Chargebacks, which are primarily related to our PDx business, are generally settled through issuance of credits, typically within one month of initial recognition, and are recorded as a reduction to current customer receivables. Balances related to chargebacks were $200 million and $157 million as of March 31, 2023 and December 31, 2022, respectively. The increase in chargebacks is primarily due to higher wholesaler product levels.

Long-Term Receivables
	As of
	March 31, 2023		December 31, 2022
Long-term customer receivables	$	71	$	80
Sundry receivables	71		57
Non-income based tax receivables	28		28
Supplier advances	11		11
Allowance for credit losses	(30)		(31)
Total long-term receivables – net(a)	$	151	$	145

(a) Long-term receivables are recognized within All other assets in the Condensed Consolidated and Combined Statements of Financial Position.

Financing Receivables
	As of
	March 31, 2023		December 31, 2022
Loans, net of deferred income	$	31	$	29
Investment in financing leases, net of deferred income	73		72
Allowance for credit losses	(4)		(4)
Current financing receivables – net(a)	100		97
Loans, net of deferred income	44		44
Investment in financing leases, net of deferred income	157		158
Allowance for credit losses	(5)		(6)
Non-current financing receivables – net(a)	$	196	$	196

(a) Current financing receivables and non-current financing receivables are recognized within All other current assets and All other assets, respectively, in the Condensed Consolidated and Combined Statements of Financial Position.